12.01.2010 12:00AMSensio Acquires Algolith
Montreal-based 3D technology company Sensio Technologies Inc., has acquired Algolith, a Montreal-based video image processing company. The acquisition consists mainly of four patents and nine patents pending, as well as Algolith's image-processing technologies, source code and know-how. Sensio says adding Algolith's 100 percent-compatible and complementary technologies will enable the company to boost development of current and future projects, and extend its range of solutions for 3D delivery.
The total cost of the transaction, according to Sensio, including assets and expenses, comes to under seven figures. The transaction will be closed during the course of today, Dec. 1, and includes Algolith's technologies and the adjunct of key personnel, bringing significant expertise in the field of image and video processing as well as their in-depth knowledge of the purchased IP. Algolith was spun off
from Miranda Technologies in 2003.
Algolith's noise-reduction and compression-artefact-reduction algorithms are among the best in the industry, said Étienne Fortin, Chief Technology Officer at Sensio. With the advent of connected TVs, low bitrate, noisy video will be widespread and we foresee a big demand for this capability from our current customers in the consumer electronics market.
Combining Algolith's video-format-conversion and noise-reduction technologies with Sensio 3D will uniquely position us to service the broadcast market as well, added Nicholas Routhier, President and CEO. Other key technologies will come into play further down the line, enhancing our state-of-the-art offering to all markets.